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Cleveland-Cliffs (CLF) Stock Moves -0.18%: What You Should Know
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Cleveland-Cliffs (CLF - Free Report) closed at $16.44 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's 0.47% loss on the day. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Heading into today, shares of the mining company had gained 10.76% over the past month, outpacing the Basic Materials sector's gain of 3.51% and the S&P 500's gain of 5.36% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. The company is expected to report EPS of $0.75, down 42.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 12.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $21.39 billion, which would represent changes of -28.85% and -6.97%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.59% higher. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 7.61. This represents a discount compared to its industry's average Forward P/E of 9.7.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cleveland-Cliffs (CLF) Stock Moves -0.18%: What You Should Know
Cleveland-Cliffs (CLF - Free Report) closed at $16.44 in the latest trading session, marking a -0.18% move from the prior day. This change was narrower than the S&P 500's 0.47% loss on the day. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Heading into today, shares of the mining company had gained 10.76% over the past month, outpacing the Basic Materials sector's gain of 3.51% and the S&P 500's gain of 5.36% in that time.
Investors will be hoping for strength from Cleveland-Cliffs as it approaches its next earnings release. The company is expected to report EPS of $0.75, down 42.75% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $5.57 billion, down 12.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.17 per share and revenue of $21.39 billion, which would represent changes of -28.85% and -6.97%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Cleveland-Cliffs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.59% higher. Cleveland-Cliffs is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Cleveland-Cliffs's current valuation metrics, including its Forward P/E ratio of 7.61. This represents a discount compared to its industry's average Forward P/E of 9.7.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 179, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.